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Weekly forecast New Zealand Dollar / US Dollar technical chart
Symbol NZDUSD

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateFebruary 29, 2020 - 20:52
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • While the price is below the resistance 0.64500, continuation of downtrend is expected.
  • We make sure when the support at 0.62050 breaks.
  • If the resistance at 0.64500 is broken, the short-term forecast -continuation of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 0.6485 on 02/12/2020, so more losses minimum to Major Support (0.6205) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 24.

Supports and Resistances:

  1. 0.7435
  2. 0.7175
  3. 0.6940
  4. 0.6775
  5. 0.6685
  6. 0.6635
  7. 0.6565
  8. 0.6500
  9. 0.5660
  10. 0.5485
  11. 0.4900
Click on the level to view price action history.